Excited Associates
Uncertainty over the workforce lowered expectations for economists and investors going into 2022. Companies across the nation both large and small struggled with labor concerns.
The antidote to turnover and “quiet quitting” has been baked into Pinnacle's model since the beginning.
We create a work environment that's so exciting, our associates rarely leave. We hire associates who naturally thrive best and achieve most when they work together, eschewing internal competition and harnessing each person's unique talents to compete as a high-performing team.
From the firm's founding, in both bull and bear markets, the success of our culture has been built around and sustained by:
Collective motivation
Pinnacle associates know the best way to reach our ambitious firmwide goals and achieve incentive rewards is together—with generous helpings of positive energy and on-site collaboration. In 2022, associates met firmwide targets for a $78.5 million payout in cash incentives and $33 million in stock.
Personal connection
By and large, Pinnacle associates are driven by personal and professional connections. So it's no surprise that Pinnacle's 2022 anniversary celebrations had the highest participation level in the history of the firm, and our market-level associate events were just as well attended.
Agency and autonomy
Work becomes easier when there's less bureaucracy and you can trust in your co-workers' abilities. Hiring experienced associates means that micromanagement is unnecessary, and associates enjoy the freedom to do what's right for their clients. It leads to a greater sense of ownership and personal responsibility and, we believe, builds Pinnacle's reputation as the employer of choice for those frustrated with the large banks.
Distinction from the rest
Pinnacle is unlike other, bigger banks on purpose, which frees associates from the confines of a traditionally stodgy banking environment and opens opportunities for creative thinking and innovation. The firm has occupied this position of distinction for two decades, and it has become a classic and sustainable competitive advantage.
In another challenge to the status quo, the firm committed to seek and celebrate greater diversity, building it into day-to-day operations, professional development and hiring. Pinnacle is intentionally recruiting associates of diverse racial and ethnic backgrounds, identity, perspective or personal gifts to cultivate an associate base that better reflects the communities we serve.
Workplace awards
- Pinnacle Ranks No. 28 Among 100 Best Companies to Work For by Great Place to Work® and FORTUNE Magazine
- Pinnacle is One of the Nation's Best Workplaces for Women
- Pinnacle is One of the Country's Top 10 Workplaces for Millennials
- Pinnacle is the No. 6 Best Bank to Work For in the Nation
- Pinnacle is a Top 10 Best Workplace in the Country for Financial Services and Insurance
- Pinnacle Named One of America's Top Companies That Care in PEOPLE Magazine
- Pinnacle is a Top 10 Best Place to Work in Virginia
- Pinnacle is Among 10 Best Places to Work in Chattanooga
- Pinnacle is the No. 1 Top Workplace in South Carolina
- Pinnacle is the No. 1 Best Place to Work in the Triad for Fourth Consecutive Year
- Team Knoxville Wins Top Workplace for the Fifth Time in Six Years
- Pinnacle is the No. 1 Workplace in the Triangle
- Pinnacle is the No. 1 Workplace in Atlanta
- Pinnacle is the Best Place to Work in Memphis for the Seventh Time
- Pinnacle Named Best Workplace in Charlotte — Again
Work environment survey scores
Pinnacle's work environment survey is both anonymous and transparent. It's arguably one of our most important firmwide initiatives, as it takes the pulse of associate satisfaction.
In 2022, the firm's Top Box score (ratings of 5 on a 5-point scale, where 5 is the best) was 74.3 percent, the highest in several years.
Top Box Ratings
See more from Pinnacle's Work Environment Survey here.
Retention rates
One of the strongest validations of Pinnacle's model is our remarkable retention rate of more than 93 percent, which has held strong even in a competitive hiring environment.
Service quality scores
Every bank says they give great service. In Pinnacle's case, it's our clients who say that. Advertising isn't part of our marketing strategy. Client testimonials about distinctively different service from happy associates are far more valuable and believable.
Client Surveys
See more from Pinnacle's Service Quality surveys here.
In matters of recruiting, the laws of attraction apply.
Pinnacle's model brings the best and most experienced bankers to us through associate referrals, which is a powerful recruiting tool. They believe Pinnacle is a better place to continue their careers because they hear it from peers, not a professional recruiter. And the best bankers are attracted to the opportunity to forge new territory in our footprint. In 2022, we hired strong banking leaders to plant flags in Bowling Green and Louisville, KY, both new markets for Pinnacle.
Pinnacle's laser focus on associate experience feeds asset and revenue growth.
Pinnacle is able to expand geography, deposits and revenue by hiring experienced talent with established, loyal clients who welcome the firm's approach to client service. Market share expands as a result. We believe the stability of this model drives earnings per share over the long term, largely independent of short-term interest rate movements or inflation.
The volatile banking environment yields fertile ground for talent acquisition.
The sources of our 2022 revenue-producing hires are primarily big banks that have grown by other means, including mergers and acquisitions.
By Competitor
- Truist
- First Horizon
- Wells Fargo
- Regions
- Other
Clients win, enjoying distinctive service and effective advice.
We believe engaged, experienced professionals who operate as a team—winning together and losing together—provide the very best experiences and sound advice for clients. The very best bankers love their clients and want to work at a place that makes it easier to serve them.
Through thick and thin, Pinnacle's model has sustained and endured.
We are intentional about investing in our associates. They will continue to fuel the firm's success and keep it on track for:
- Market share growth
- De novo market expansion
- Strategic initiatives for deposit programs and specialty services
- Overall client satisfaction